Washington Native Plant Society: Endowment Policy

Endowment Policy

Purpose

The purpose of the Washington Native Plant Society Endowment is to provide stable, long-term support for research, education, and conservation grants and projects. Grant and project funding provided from the WNPS Endowment is independent of the organization’s operating budget.

Administrative and Fund Raising Costs

It is the intent of WNPS to make every effort to minimize costs associated with fund raising and administration for the WNPS Endowment. On a yearly basis, the WNPS Board of Directors will review and report to the membership on the portion of the Endowment fund collected used to defray the costs of fund raising and administration.

Endowment fund principal may not be used for operation of the Washington Native Plant Society except for a financial crisis that would otherwise threaten the existence of the organization. Such an emergency allocation will require a two-thirds vote of a quorum of the WNPS Board of Directors.

Minimum Fund Size and Percentage of Expenditures

In order for the Endowment's earnings to provide sufficient revenues to support educational, research, and conservation grants and projects, it is necessary to have a significant fund base. For that reason, no allocation of earnings shall be made from the Endowment until such fund has a minimum balance of one hundred thousand dollars ($100,000) without a specific authorization of two-thirds vote of a quorum of the WNPS Board of Directors. When the minimum fund balance has been achieved, WNPS may allocate up to 5% of the fund's current market value, determined in September of each calendar year. The WNPS Board of Directors may decide to make no distributions from the Endowment in some years, allowing all earnings to be reinvested with the principal.

In determining the amount to be allocated, the Board shall consider the recommendations of the executive committee, the total value of the investment, the impact of inflation and the availability of alternative funding.

Investment of the Funds

It is the policy of the Washington Native Plant Society to invest the Endowment balance in a fiscally and socially responsible manner consistent with the goals of the Society.

Administration of the Fund and Allocation of Grants

The WNPS executive committee and the treasurer administer the Endowment, approve the investment options, and recommend to the WNPS Board of Directors the allocation from the fund after the minimum fund balance is achieved. Selection of specific grants and projects for funding within the amount allocated shall be the responsibility of the Research, Education and/or Conservation Committees with the concurrence of the Board.

Sources of Funds

WNPS will solicit funds for the Endowment through:

Periodic commemorative and other fund raising campaigns
Bequests and other special gifts
Such other means as may be approved by the Board

Yearly Report

The executive committee shall provide a yearly report to the membership on the Endowment including but not limited to:

Funds collected
Investment results
Projects funded
Administrative and fund raising costs

Approved by the Executive Board: July 20, 2001, revised 10/23/04.